According to the research report titled ‘Veterinary Imaging Market Size By Product, By Animal Type (Small Companion Animals, Large Animals), By Application (Orthopedics and Traumatology, Oncology, Cardiology, Neurology), By End-use (Hospitals, Clinics), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025’, available with Market Study Report, global veterinary imaging market is projected to exceed a valuation of USD 2 billion by the end of the forecast period 2019-2025.
 

As per the findings of the report, rising pet adoption, escalating demand for pet insurance, increasing animal health expenditure and growing cases of zoonotic diseases are fueling global veterinary imaging market growth.
 

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Technological advancements and surging number of veterinary practitioners in developed economies are further adding impetus to market development. However, high cost associated with veterinary imaging instruments is negatively influencing the business dynamics.
 

Based on product type, veterinary imaging segment represented 54% of the overall revenue generated in 2018 and will likely witness strong gains in the upcoming years, attributable to growing prevalence of zoonotic diseases which require effective diagnostic tool.
 

Considering animal type, global veterinary imaging market size from small companion animals segment was valued USD 750 million in 2018 and is touted to witness modest gains over the analysis period. Rising demand for companion animals will continue to drive the segment growth.
 

Speaking of the application scope, oncology segment is anticipated to record 7% CAGR through 2025. Growing availability of precise diagnostic tools along with increasing concern for tumor and cancer in small animals is fostering the segment growth. Moreover, alliances between clinical institutions with academic institutions to promote innovation in oncology for effective cancer treatment is enhancing the industry outlook.
 

In terms of end-use, global veterinary imaging market from clinics segment accounted for 570 million in 2018 and is expected to showcase strong growth trends in the upcoming years. Increasing number of veterinarians and rising awareness regarding companion animals diagnosis that is performed in clinical settings, together with demand for pet insurance plans and favorable reimbursement policies are driving the segmental growth.
 

Considering the geographical outlook, North America veterinary imaging market value is set to expand at 6% CAGR during 2019-2025. Spike in animal adoption, rising burden of zoonotic diseases, and presence of a well-established healthcare infrastructure are stimulating the regional market growth.
 

Speaking of the competitive landscape, Siemens AG, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Idexx Laboratories Inc., Hitachi Ltd., GE Healthcare, Fujifilm Holdings Corp., Esaote SpA, Epica International Inc., Carestream Health, Canon Medical Systems Corp., BCF Ultrasound, and Agfa-Gevaert N.V. are the top players in global veterinary imaging industry sphere.